PSYONIC Set to Make Waves on Shark Tank

Categories : Graduates, Media Mentions
Posted on: February 23, 2024

PSYONIC, an EnterpriseWorks graduate, is gearing up for its appearance on Shark Tank, scheduled for Friday, February 23. With a recent successful $3.1 million crowdfunded equity raise, the company is positioned for a major breakthrough.

While details of their pitch to the sharks remain under wraps until the episode airs on ABC, viewers can expect to see Dr. Aadeel Akhtar, CEO and Founder of PSYONIC and University of Illinois alumnus, alongside Sgt. Garrett Anderson, a University of Illinois employee and user of PSYONIC’s innovative bionic hand, demonstrating the company’s technology.

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Akhtar received his Ph.D. in Neuroscience and M.S. in Electrical & Computer Engineering from the University of Illinois at Urbana-Champaign in 2016. Akhtar and a group of engineers got to work at EnterpriseWorks, building bionic hands from scratch. Now, the hand is a full-functioning one, which the ability to grasp, move, and feel like a real hand.

Anderson, who studied rehabilitation counseling at the University of Illinois at Urbana-Champaign as a master’s student, was among the first amputees to test the bionic hand. After he lost his arm below the elbow in Iraq in 2005, he could never tell how much pressure he was applying with his prosthetic hand. He began testing prototypes that let him feel again with PSYONIC.

PSYONIC specializes in creating advanced bionic limbs for individuals with amputations, with their first product being the Ability Hand. This prosthetic hand has unmatched speed, intuitive control, touch feedback, and durability. It stands out as the fastest bionic hand available. Additionally, it is available through Medicare, making this cutting-edge technology accessible to a wider audience.

The Ability Hand is the world’s first touch-sensing bionic hand. This not only enhances functionality but also provides users with a heightened sense of connection and control over their prosthetic limb. The Ability Hand is covered by insurance companies in the United States, ensuring that users can access this life-changing technology without any out-of-pocket costs.

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As PSYONIC prepares to step onto the Shark Tank stage, many eagerly awaiting the outcome of this pivotal moment for the company and the future of bionics technology. Tune in to ABC to witness the next chapter in PSYONIC’s journey as they showcase their groundbreaking innovations to the sharks and the world.

Akhtar launched PSYONIC in 2015 and the company moved into EnterpriseWorks in 2018. PSYONIC came to EnterpriseWorks as part of the iVenture Accelerator Team in 2015, and has also won prizes at the Cozad New Venture Competition and the 2016 Illinois Innovation Prize. It moved its headquarters to San Diego, California in 2022.

Prior to relocating to San Diego, Akhtar says, “This achievement would not have been possible without the resources available to us in Champaign-Urbana. From the Neuroscience Program, to The Grainger College of Engineering, to the Illinois Technology Entrepreneur Center, iVenture Accelerator, Enterprise Works, University of Illinois Research Park, and many more, this community made PSYONIC and the Ability Hand what it is today.”